May 12, 2017
UK Chancellor announced on 25 April that a series of ‘significant clauses’ from the Finance Bill are on hold.
In the run up to the 8 June election, the UK Chancellor has announced a delay to reforms expected in the Finance Bill (no 2) 2017. These include the implementation of a maximum period of time a non-domiciled individual can be UK resident before being deemed UK domiciled for all tax purposes. While the reforms are largely expected in a third Finance Bill after the general election, this announcement means further uncertainty for residents non-domiciled, and they may now need to carefully consider their wealth planning strategy.
